…President Granger says citizens about to witness the most transformative event in Guyana’s economic history
Urging citizens to take control of their own destinies by positioning themselves lest others profit from the oil and gas sector at their expense, President David Granger had some harsh words for citizens with mixed-up priorities.
Addressing residents of Beterverwagting, East Coast Demerara on Tuesday evening at a Cultural Evening hosted to commemorate the 180th anniversary of the abolition of slavery, President Granger said even though he can have the profits and benefits from oil production equitably shared, it is up to citizens to empower themselves to take advantage of the opportunities that will become available.
“When that mighty Atlantic starts to generate wealth for Guyana, I can do anything possible to ensure that the profits and benefits are equitably shared; but you and your children, your sons and daughters, must be educated and empowered to make use of that new talent. Don’t be like the wicked and slothful servant. This is the chance of a lifetime,” he admonished.
“You who are living today are witnessing the most transformative event in Guyana’s economic history — the coming of the petroleum industry. Don’t be sidelined, don’t be left behind; go to school, educate yourself so you can do for your grandchildren and future generations what your fore-parents did for you,” he charged his audience.
Against this backdrop, the President called out those citizens who remain idle and choose joblessness, instead of becoming self-employed and drive their village economies through activities such as agro-processing. Further, he singled out those parents who spend money on entertainment, rather than on educating their children.
“Go out there and use your talent to enrich yourself and your children. That is economic emancipation. We must go out there and use our talents. If we make our living by hanging around the corner and liming at the Guinness Bar, we will be forever poor; but if we go into our farms, go into our workshops, go into our schools, we will be able to bring (about) prosperity,” the Head of State told the gathering.
He admonished parents to put their monies towards the development of their children, and “not in vodka, rum and gin.”
“Let us put the children first. If our fore parents were drunkards, we wouldn’t be here today; but they saved their money and bought these villages, not for themselves, but for future generations,” he stressed.
Being very direct and frank in his speech, the President said persons who are unemployed should be ashamed of themselves.
“You must be ashamed if you do not have work. Some people are proud that they don’t have work. They want a raise; they always want a raise. People get a raise today, they expect to come back, to want another raise; but we’ll have to promote self-employment in this village and other villages,” Granger said.
Business Minister Dominic Gaskin had recently announced that the second review of the Local Content Policy is expected to be completed by the first quarter of next year. Many expect that this policy would lay out how shore-based Guyanese would benefit from the oil.
“There is currently a second draft Local Content Policy framework being reviewed and consulted on. We’ve also recently completed terms of reference for a consultancy to complete the Local Content Policy based on consultations and a draft, also an implementation plan, depending on whether or not legislation is going to be needed for the implementation. This process should be completed by the fourth quarter of this year or the first quarter of next year,” the Minister had informed.
He added that it was important for the new legislation to be ‘balanced’, since a ‘too strongly national’ Local Content Policy can jeopardise the efficiency or the viability of the company being relied on to harness the resource.
Gaskin, however, warned that Guyanese would not be able to benefit from the Local Content Policy if they were unable to meet the capacity of the oil and gas sector. According to him, capacity development costs should be borne by the industry that is going to benefit in the long run.
The Business Minister advised that Guyanese should be willing to carry the burden of oil expenditure, and not only seek to benefit from oil revenue.
“As the owners of this oil, Guyanese people must become the main beneficiaries of those production costs. In other words, we have to benefit not only from oil revenues, but from the spending that is associated with oil production,” he pointed out.
Gaskin said despite the fact that oil and gas will provide growth opportunities, persons should not be dependent only on job opportunities in the sector. He noted, “We should not be blinkered in our own approach to investments”.
The primary aim of the Local Content Policy is ensuring the education, inclusion and advancement of as many Guyanese as possible in the industry.
As ExxonMobil prepares to officially commence oil production in 2020, there is currently ongoing much preparatory work which requires services tailored to the specific needs of the industry.
